Arsenal ace Alexis Sanchez 'faces JAIL' over tax fraud

FRAUD: Alexis Sanchez has admitted to two counts of tax fraud

The Arsenal forward admitted to two counts of tax fraud in court via video link.

The 27-year-old Chilean owned up to not paying tax on around £900,000 while playing for the Spanish giants between 2012 and 2013.

Sanchez used an offshore company in Malta to stash funds earned from image rights, the court heard.

Prosecutors said he "simulated" the transfer of image rights to the company, named Numidia, of which he owned a 99% stake. 

FRAUD: Sanchez stashed away around £900,000 in an offshore company

In doing so he avoided paying €587,677 (£516,190) in 2012 and €395,766 (£347,624) in 2013.

Sanchez, who joined Arsenal from Barcelona for £35m in 2014, has paid back the full amount.

He now faces a huge fine and a prison sentence.

If he fails to pay the penalty, he could face a court case – similar to that of ex-teammate Lionel Messi.

Although Sanchez faces a prison term, he is not likely to serve time behind bars.

Jail terms under two years can be served on probation under Spanish law.

Sanchez in among five Barcelona players investigated for tax offences.

Lionel Messi, Javier Mascherano, Adriano and Samuel Eto’o were all subject to probes.

Sanchez today insisted he is happy at Arsenal – despite rumours he is seeking to move.